Along with the release of iOS 5 Beta 5 earlier today, Apple released the latest beta version of iTunes, iTunes 10.5 Beta 5.

If you’re not going to update your device to iOS 5 Beta 5 over-the-air, Apple recommends you first update via iTunes 10.5 Beta 4, and then update to iTunes 10.5 Beta 5.

Confused? Then read the following release notes:

“To install iOS 5 beta 5 using over the air software update, you must first erase all content and settings on your device by choosing Settings > General > Reset > Erase All Content and Settings. Over the air software update can be initiated on devices running iOS 5 beta 3 and later by choosing Settings > General > Software Update.

Be sure to backup your devices using iTunes 10.5 beta 4 or through iCloud backup prior to installing iOS 5 beta 5. After installing iOS 5 beta 5, you can restore your device using either iTunes 10.5 beta 5 or through your iCloud backup.”

As far as I can tell, this version of iTunes is jailbreak safe.

As always, iTunes 10.5 Beta 5 is for developers only.